Getting Life Insurance in Your 20s and Its Benefits

Deciding to purchase life insurance in your 20s will be beneficial to you in the long run. Not only are policies more affordable, but you will also get a better policy due to better health and well-being. The longer you have your life insurance in place, the more sound your overall investment will turn out to be. Whether you are purchasing the policy to provide for your family or protect your business, the earlier you start, the more advantageous it will be for you.

Premiums Will Be Cheaper

If you purchase a life insurance policy in your 20s, the expectation is that it will be in place throughout your lifetime. The younger you are, the longer you will pay for your policy, making your premiums extremely low. Even on whole life policies, the younger you are when you buy your policy, the more affordable your premiums will be. When you are ready to purchase your first life insurance policy, you should immediately contact your insurance agent to find out what type of policies are available and what benefits are associated with each one. Once you have the answers to your questions, the easier it will be to choose the correct policy.

Better Safety Net for Your Loved Ones

Caring for your loved ones is always a top priority. No one expects to leave their loved ones behind, but when the unthinkable happens, you should always be prepared. The earlier you purchase a life insurance policy, the more benefits your family will have if they are forced to rely on it if your income is taken away. Many people choose to start a policy in their 20s before they even have a family. This allows them to build equity and begin to save for their future. When the time comes, they have a sizeable cash value from the insurance already established.

Choosing to purchase your first policy in your 20s is an ideal way for young professionals to invest in their future while they are young and healthy. The accumulated cash value can be used later to pay for important life events, including children’s education, weddings, home purchases, retirement incomes, etc. This money, in most cases, can be withdrawn without creating a tax liability.

Better Health Leads to Better Insurance

Individuals in their 20s are normally healthy and ready to take on the world. When purchasing life insurance, the healthier you are, the better your life insurance coverage will be. Individuals, who wait until later in life when their health has started to take a turn for the worse, may not even qualify for quality whole life coverage. Many insurance agents recommend buying whole life policies at the youngest possible age to avoid penalties for poor health. By buying early, you will get access to the best possible coverage and will be able to enjoy higher benefit amounts for a much lower price. Also, while speaking in terms of health, besides a death benefit, insurance can have other features, for example, support for certain medical problems, such as cancer.

If you are in your 20s and are interested in learning more about life insurance coverage and the benefits it offers, call the agents of Miller Carlisle Insurance Services. Our staff is trained to provide you with the most accurate and up to date information possible so that you can make an informed decision. Don’t just purchase any policy. Choose the one that fits your needs and your lifestyle. Schedule your first consultation today!

4 Reasons Why Investing in Life Insurance in Your 30s Is the Best Thing You Will Do

You can buy a life insurance policy to get financial assistance and protection during unexpected events and situations. However, you should purchase it at the right time to enjoy maximum benefits. A great time to get life insurance is when you are in your 30s.

Here are 4 reasons why you should consider getting life coverage in your 30s:

1. You Have Your Family

You might be a parent already or are married and planning to have children. Securing your family’s future is important for you. You must get term life insurance to financially protect them in the event of your unexpected death.

2. You Earn More

After your death, it would be especially difficult for your family to cope with the expenses without your income. However, your life insurance policy might be able to cover some of your lost income.

A policy with a death benefit of 5 to 10 times more than your annual salary would ensure that your family is financially protected after your death.

3. You May Already Have Debts

Whether it is a student loan, mortgage, or personal loan, you need to pay it back on time. Even if you die, your cosigner needs to pay it.

If you have a federal student loan, it will be discharged when you die. However, certain private loan providers might require your cosigner to complete the debt. In such situations, life coverage will help your cosigner or family to pay the debt.

4. You Will Save Money

Your 30s are the perfect time to buy a life insurance policy because age and good health are two important parameters that determine your premium rate. When you are in your 30s, you will be healthy, so you can get a lower premium.

These are a few reasons why buying life insurance in your 30s is a smart decision. If you have additional questions, contact the experts at Miller Carlisle Insurance Services in Carlisle, Pennsylvania. We are ready to assist you with all your coverage needs.

Why Getting Life Insurance Is Beneficial!

In this uncertain and unpredictable world, all you can do is act in the present and prepare for the future. Getting life insurance is one such preparation that ensures financial assistance for your beneficiaries.

Opting for life insurance is essentially a selfless act of love that you do for your dear ones. The overwhelming feeling of loss that people close to you experience when you pass away cannot be put into words, but life insurance can help alleviate some of that grief.

Some benefits that life insurance provides to its beneficiaries are:

Pay Funeral Expenses

According to Lincoln Heritage Funeral Advantage, the average funeral costs between $7,000 and $12,000. This is a substantial amount for the average American family. A life insurance policy can help to cover these expenses.

Pay Educational Expenses

If you have kids or any person dependent on your earnings to pay their school, college, or other educational expenses, life insurance cover can help with those expenses upon your death.

Pay Off Mortgage

If you are paying your home’s mortgage with your earnings, it can be a tremendous burden for your partner once you are gone. Your life insurance cover can then take care of the mortgage. When you pay for life insurance, you are generally also paying for the event where your loans get cleared rather than falling on the cosigners.

Take Care of Your Medical Expenses

Not all life insurance policies are for the event of your death. Sometimes they can cover your medical expenses if you are diagnosed with a critical illness and are unable to work.

There are many different life insurance policies, each with various benefits, many of which overlap across plans. Read through all the documents carefully before making a decision. For assistance with all your insurance needs, contact the experts at Miller Carlisle Insurance Services.

How to Find Your Lost Life Insurance Policy

How to Find Your Lost Life Insurance Policy

When your loved one passes away, finding their life insurance policy can be a time-consuming and frustrating ordeal.

When a client loses someone dear to them, they may be expecting a life insurance policy death benefit to help them through this hard time. Sometimes, however, the life insurance policy can become lost. But how, you may be asking, can an insurance company simply lose such a policy? Don’t they have a digital system in which everything is kept? Very likely, but there are various reasons a policy may become lost. If the policy of your deceased loved one got lost in the taverns of a life insurance company, here are a few tips on how you can locate that policy.

Why Benefits Go Unclaimed

Lost life insurance policies don’t happen because of an evil corporate business man. The reasons are actually not very grandiose. Some carriers may merge, while other times the beneficiary is unaware of the policy.

How to Find a Policy

  1. Contact the Employer – If the deceased was employed during their death, an employer-sponsored life insurance policy may be in place and the employer is simply waiting for you to claim the death benefit.
  2. Check That the Insurance Company Remains Active – When a policy gets lost, it is often because the insurance company that held the policy was absorbed or bought out by another company. Contact your state’s Insurance Department to find out what happened to your insurance company.
  3. Try the MIB Database –  This is a consortium of life and health insurers that contains every policy ever written since 1996.

To find your life insurance policy that is affordable and comprehensible, contact Miller Insurance Agency, Inc. in Carlisle. We’re happy to help you with the policy that you and your family need!

How to Locate a Lost Life Insurance Policy

How to Locate a Lost Life Insurance Policy

When you have to help a customer locate a deceased family member’s lost life insurance it can be a timely and frustrating process for both parties involved. 

Why Do Benefits Go Unclaimed? 

There are many reasons as to why a life insurance may go unclaimed. There may be times where carriers merge or are acquired, other times there is uncertainty about a policy continued in force, but many benefits go unclaimed simply because the beneficiary is unaware of the existence of such policy or they are unable to find it.

How to Find the Policy

  1. Search the insurance-related files. Make sure that you have checked your insurance files. It may just be stuck behind another piece of paper you might not have checked.
  2. Contact the employer. If the deceased person in question was working at the time of death, their employer may have a copy of the insurance policy.
  3. Look over canceled checks and bank books. Look for any checks that were written for the insurance company.
  4. Search the insurance company. It may be that the life insurance company in question may not exist anymore or was absorbed by another company. If so, contact the new company from which it was absorbed.
  5. Check your state’s unclaimed property office. Start with the National Association of Unclaimed Property Administrators and follow the on-screen instructions to see if they have a record of your insurance policy.
  6. The MIB database. The Men In Black can’t help you with such Earthly matters, but the Medical Information Bureau can. The MIB Group database has individual life insurance applications underwritten since 1996.

To find a quality life insurance policy that is affordable and comprehensible, without too much stress, contact Miller Insurance Agency, Inc. in Carlisle. We’re happy to help you with the policy that you and your family need!

3 Reasons People Don’t Buy Life Insurance (And Why They’re Wrong)

3 Reasons People Don’t Buy Life Insurance (And Why They’re Wrong)

Life insurance is something that most of us don’t want to think about, but it’s an important aspect in keeping your family safe.

Thinking about life insurance is something one has to do, however difficult it is. Why is it difficult? Well, it might something have to do with coming to terms with your inevitable death. When it comes to the safety and financial security of your family, life insurance is definitely something you should think about. For some, however, it’s not enough. Life insurance myths are something that they may never think about because of preconceived notions they picked up along the way. Here are three reasons people don’t buy life insurance and why they are wrong to not do so.

  1. “I’m, like, really healthy.”

You may be healthy now and have a strong family record of being healthy, but no one knows how long our health will remain in tact. You never know what virus or infection or injury you’ll pick up tomorrow. Short of being Patient Zero for the zombie apocalypse, purchasing a quality life insurance plan protects your family should anything unexpected happen to you.

  1. “I can’t afford it.”

This is a misconception that many people have about life insurance. The truth is that life insurance is not all that expensive. This depends on a number of factors, of course, including your age, health, life habits, and how much coverage you want to buy.

  1. “The process intimidates me.”
    How much is your family’s security worth to you? If your family depends on your for things like mortgage, education, extracurricular activities, or anything else—their security should certainly be worth a few moments of your time, no matter how uncomfortable you may be.

Your family depends on you making the big decisions (at least half of them). Your family shouldn’t have to suffer further: your early departure is hard enough already. For a quality life insurance policy that is affordable and comprehensible, without too much stress, contact Miller Insurance Agency, Inc. In Carlisle, PA. We’re happy to help you with the policy that you and your family need!

Questions To Ask Your Life Insurance Agent

Questions To Ask Your Life Insurance AgentTalk to your life insurance agent about these questions before you buy a policy.

When you buy a life insurance policy, you do so to protect your loved ones. It’s important, then, that you work with a life insurance agent who understands—and supports—that goal. To help you find the right life insurance agent, ask these questions.

  • How do I reach you? Ask your agent about his or her preferred means of communication (e.g. email, phone, text) and make sure it matches yours. Also, ask how regularly he or she will be in touch. A good agent should have a habit of reaching out to evaluate and update your policy.
  • What does this mean? If there’s a question of your policy that’s confusing, ask your agent to explain it. He or she should be able to do so in a way that gives your complete clarity.
  • Are you an independent agent? To make sure your family has the policy options it needs, work with an independent agent—who works with multiple providers—rather than a captive agent who will only show you coverage options from one provider.

If you’re ready to sit down with an agent dedicated to helping you get a great life insurance policy paired with great service, contact Miller Insurance Associates in Carlisle, Pennsylvania today!